Welcome to all the new subscribers that have joined us over the last few weeks! If you haven’t already, you should check out my last article here:
People are crucial for enduring success in a startup. The founding team must be strong and they must be able to hire strong employees.
It's a pretty easy framework to follow, identify good markets and then identify the best founders in those markets and give them money. As Don Valentine puts it "I like opportunities that are addressing markets so big that even the management team can’t get in its way.”
In early-stage venture, it's easy to focus on what the MVP looks like, how much they're raising, and how many pilot customers they may or may not have. In the long run, it's hard to know whether any of that actually matters. However, the two things that do matter are the Market and the Founding team.
As I covered in my last article, the market that a startup is operating in, matters because it dictates basically everything about the business. It dictates what your product is, what your GTM strategy should be, the ability to access and entice talent and the overall potential for the business.